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Business

Diesel subsidy in Sabah and Sarawak a necessity, not a privilege — Chan Foong Hin

KOTA KINABALU, March 27 — Sabah DAP Deputy Chairperson and Kota Kinabalu MP Chan Foong Hin has expressed strong support for Prime Minister Anwar Ibrahim’s decision to maintain the diesel .... read more

Sabah Entitled to Diesel Subsidy, Says Ewon Benedick

KOTA KINABALU, March 27 — Sabah is justified in receiving diesel subsidies given its longstanding role as one of Malaysia’s main oil and gas producers, said Ewon Benedick. The Sabah .... read more

KUALA LUMPUR — The Malaysian ringgit opened higher for the fourth consecutive day, following the government’s announcement of a measured approach to fuel subsidies aimed at balancing fiscal discipline with cost-of-living concerns amid ongoing West Asian tensions. At 8am, the local currency rose to 3.9855/4.0050 against the US dollar, up from Thursday’s close of 3.9920/3.9955. Prime Minister Datuk Seri Anwar Ibrahim, in a special message yesterday, announced that effective April 1, the individual monthly quota for the BUDI95 fuel programme will be temporarily reduced from 300 litres to 200 litres per month due to the geopolitical situation. The adjustment is expected to have minimal impact on most Malaysians, as average consumption remains around 100 litres monthly, with nearly 90 percent using less than 200 litres. Anwar also confirmed that Iran has permitted Malaysian oil tankers to pass through the Strait of Hormuz, easing supply concerns. Bank Muamalat Malaysia Bhd Chief Economist Mohd Afzanizam Abdul Rashid said the move demonstrates the government’s commitment to balancing fiscal responsibility with household welfare amid global market pressures. “This is a positive development for the ringgit, reflecting timely government action in response to the fallout from tensions in West Asia,” he said. SPI Asset Management’s managing partner Stephen Innes noted that the temporary reprieve granted by US President Donald Trump on potential attacks on Iran’s energy infrastructure has eased safe-haven demand for the US dollar, providing further support to the ringgit. The local currency also strengthened against other major and regional currencies. It rose against the Japanese yen to 2.4951/2.5077, the British pound to 5.3143/5.3403, and the euro to 4.5969/4.6194. Against ASEAN currencies, it gained against the Singapore dollar at 3.0994/3.1148, the Thai baht at 12.0868/12.1566, the Indonesian rupiah at 235.7/237.0, and the Philippine peso at 6.61/6.65. The ringgit’s sustained momentum reflects market confidence in Malaysia’s proactive economic measures despite ongoing global uncertainties.

Ringgit Strengthens on Government’s Pragmatic Fuel Subsidy Adjustment Amid West Asia Tensions

KUALA LUMPUR — The Malaysian ringgit opened higher for the fourth consecutive day, following the government’s announcement of a measured approach to fuel subsidies aimed at balancing fiscal discipline with .... read more

Health Summit Asia 2026 to Host 30+ Global Healthcare Leaders

KUALA LUMPUR, Malaysia, March 26, 2026 /PRNewswire/ — Health Summit Asia (HSA) 2026 has confirmed more than 30 distinguished speakers from across the globe, underscoring the event’s scale and significance .... read more

Kota Belud Industrial Park Master Plan to Be Tabled at Sabah Cabinet — Ewon

KOTA BELUD, March 26, 2026: The master plan for the Kota Belud Industrial Park will be presented to the Sabah State Cabinet at its upcoming meeting, said Deputy Chief Minister .... read more

Sabah, China Eye Stronger Sister-City Ties to Boost Tourism and Investment

KOTA KINABALU, 26 March 2026: The Chinese Consulate office here has expressed support for revisiting sister-city partnerships to strengthen tourism, cultural, and economic ties with Sabah, including exploring new avenues .... read more

Swift Action to Shield Malaysia’s Economy Amid Global Risks — PM Anwar

KUALA LUMPUR, March 25, 2026 — Malaysia is taking proactive steps to safeguard its economic resilience amid rising global uncertainties, Prime Minister Anwar Ibrahim said after chairing the National Economic .... read more

Redefining the Future of Financial Advisory Firms in Singapore at the MDRT CEO Forum

SINGAPORE, /PRNewswire/ — Fueled by accelerating wealth creation, increasingly sophisticated client needs, and the adoption of digital technologies and generative artificial intelligence (AI), the financial advisory (FA) channel in Singapore .... read more

Manulife Named “Asia’s Best Insurance Provider for Wealth Management” by Euromoney

HONG KONG, /PRNewswire/ — Manulife today announced it has been named “Asia’s Best Insurance Provider for Wealth Management” at the 2026 Euromoney Private Banking Awards. The award recognizes Manulife’s excellence .... read more

Ringgit opens higher amid signs of Middle East de-escalation

KUALA LUMPUR — The ringgit opened higher against the US dollar today as global risk sentiment improved after US president Donald Trump signalled a de-escalation in the West Asia .... read more

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